Poland: Senate approves bill to ease corporate tax rules
The legislation repeals the requirement for large corporate income taxpayers to publish a report on their executed tax strategy. Poland’s Senate passed two tax legislation amendments without changes on 17 July 2025. Corporate Income Tax
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Taiwan: MoF warns enterprises on timely CFC loss reporting
The finance ministry stated that CFC losses need supporting documents by the tax deadline, or they won’t be allowed. Taiwan’s Ministry of Finance (MOF) stated that CFC losses will be disallowed unless supporting documents are submitted by the
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Taiwan clarifies rules on foreign tax credit eligibility
Unclaimed treaty relief blocks foreign tax credit in Taiwan Taiwan’s Ministry of Finance has clarified that profit-seeking enterprises are not eligible to claim a foreign tax credit for excess taxes paid in treaty jurisdictions if they do not
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UAE clarifies VAT requirements on SWIFT charges for financial institutions
The Public Clarification outlines the VAT obligations and input tax documentation requirements for financial institutions incurring SWIFT-related interbank charges. The UAE Federal Tax Authority (FTA) issued Public Clarification VATP041 on 28
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Malaysia issues updated guidance on taxation of Malaysian ships
The Public Ruling updates the tax treatment and shipping income exemptions for qualifying Malaysian residents, replacing the 2012 edition. RegFollower Desk The Inland Revenue Board of Malaysia (IRBM) has issued Public Ruling No. 1/2025 on 15
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Romania: Parliament approves increases to VAT, bank levy, and dividend tax
The law introduces significant tax reforms, including increased VAT rates, a new reduced VAT rate, higher turnover tax for banks, and an increased dividend tax rate. Romania's parliament has passed the Law on certain fiscal-budget measures on 14
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Italy: Council of Ministers approves draft VAT consolidation code
The new consolidated VAT law has been structured into 18 sections and 171 articles. Italy’s Council of Ministers, in a press release on 14 July 2025, has given preliminary approval to a Legislative Decree aimed at consolidating and reorganising
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Colombia: Government considers tax hike to fund 2026 budget
The government is considering tax reform to raise COP 26 trillion for its 2026 budget. Colombia’s government is considering a tax reform proposal aimed at generating COP 26 trillion, primarily through tax increases, to support the 2026
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Ireland: Irish Revenue revises schedule of revenue powers
The brief confirms the updates to the Tax and Duty Manual (TDM) as of July 2025. The Irish Revenue has published eBrief No. 135/25 on 15 July 2025 about updates to Tax and Duty Manual (TDM) 38-04-15 Schedule of Powers. Revenue eBrief No.
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Costa Rica issues transition guidelines for new digital tax system
The resolution outlines the guidelines for disabling current tax platforms to transition to the new “TRIBU-CR” system, which will take effect on 4 August 2025. Costa Rica’s Tax Administration (DGT) issued Resolution No. MH-DGT-RES-0011-2025
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Kazakhstan consults transfer pricing law amendments
The amendment proposes using the official exchange rate to calculate the CbC reporting threshold under transfer pricing rules. Kazakhstan’s Ministry of Finance has initiated a public consultation regarding the draft order proposing changes to
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Poland: MoF issues guidance on beneficial ownership for withholding tax
The guidance provides clarification of the application of the beneficial owner clause for withholding tax under Corporate and Individual Income Tax Laws. Poland’s Ministry of Finance has issued guidance on 3 July 2025, regarding the application
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Mexico updates final lists of taxpayers linked to fake transactions
The updated lists of taxpayers suspected of issuing invalid invoices due to non-existent transactions require affected parties to provide proof or amend tax returns within 30 days. Mexico’s Tax Administration (SAT) has revised the final lists
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Turkey extends tax payment deadlines in earthquake-hit regions
Turkey delays tax debt repayments for earthquake-affected taxpayers until after November 2025. Turkey's Revenue Administration announced the enactment of Presidential Decision No. 10700 on 14 July 2025, extending the payment periods for
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India: CBDT launches nationwide drive to crack down on false income tax deduction and exemption claims
The income tax department has begun a large-scale verification to detect and act against fraudulent claims of deductions and exemptions in income tax returns. India’s Central Board of Direct Taxes (CBDT) initiated a nationwide verification
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Chile extends reduced tax rate for qualifying SMEs until 2028
The new law extends the reduced 12.5% rate through 2025-2027, with a 15% rate starting in 2028. Chile published Law No. 21755 in the Official Gazette on 11 July 2025, extending the temporary reduced corporate tax rate for qualifying SMEs under
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Colombia sets shareholder loan rate at 9.25% for 2025
Colombia has lowered the deemed minimum interest rate on shareholder and partner loans to 9.25% for the 2025 tax year, down from 12.69% in 2024. Colombia’s Ministry of Finance has issued Decree No. 0771 on 7 July 2025, establishing a deemed
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Belgium issues clarification on 2026 B2B e-invoicing rules
The Decree mandates the use of structured e-invoicing for B2B transactions between VAT-registered taxpayers, starting in 2026. Belgium has published Decree of 8 July 2025 in the Official Gazette, mandating structured electronic invoicing
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